In which of the following instances will total revenue decline

Asked by admin @ 07/10/2021 in Business viewed by 264 People

Which of the following instances will total revenue or receipts decline? Group of answer choices Price falls and demand is elastic. Price falls and demand is unit elastic. Price rises and demand is elastic. Price rises and demand is inelastic.

Answered by admin @ 07/10/2021

Answer:

Price rises and demand is elastic

Explanation:

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.

Demand is inelastic if a small change in price has little or no effect on quantity demanded.

Demand is unit elastic if a small change in price has an equal and proportionate effect on quantity demanded.

If Price falls and demand is elastic, total revenue would increase because Quanitity demanded would rise.

If Price falls and demand is unit elastic, there would be a proportionate change in quantity demanded and total revenue would remain unchanged.

If Price rises and demand is elastic, total revenue would fall because Quanitity demanded would fall.

If Price rises and demand is inelastic, total revenue would rise because there would be no change in quantity demanded

A new video game is expected to sell 130 copies the first hour at a local game store. after that, the sales will follow the function s(x) = 9(x − 1) where x is the number of hours. what is the function that shows total sales, including the first hour? a) s(x) = 130 + 9(x − 1) b) s(x) = 9(x − 1) − 130 c) s(x) = 130x − 9 d) s(x) = 130 − 9(x − 1)

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Able, baker, and charles are engaged in the marketing to and enrollment of beneficiaries into medicare health plans. mr. able is an independent agent paid directly by a health plan. ms. baker is an independent agent paid through a field marketing organization (fmo). mr. charles is an independent agent paid for his work by a third-party marketing organization (tmo). how do the cms compensation rules apply to these three agents?

Asked by maham237 @ 13/01/2021 in Business viewed by 2744 persons

In which of the following instances will total revenue decline

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